HIT on the NJ Waterfront

Hudson Square SouthThe HIT begins its support for the redevelopment of New Jersey's industrial waterfront with a $19.9 million investment in the Hudson Square South Apartments in Hoboken. Over the next 15 years, the HIT will invest over $628 million in a total of 13 projects in Hoboken and Jersey City to create vibrant new waterfront communities.

 

HIT's Investment Partnership

Bill ClintonPresident Bill Clinton provides a major boost to the HIT's National Partnership for Community Investment when he endorses the initiative in a speech in South Florida.




Revitalizing HUD

Henry CisnerosHUD Secretary Henry Cisneros sets in motion a major revitalization of the agency. Cisneros will be widely credited with turning around the nation's public housing through his implementation of the HOPE VI program, as well as helping the Clinton Administration achieve its goal of expanding homeownership opportunities.

Unions Achieve New Family Legislation

Family LegislationUnions' support of family policy issues, long a top priority, helps bring about passage of the Family and Medical Leave Act of 1993. The new law assures that workers can return to their jobs if they must take a leave of absence due to health conditions that make them unable to work or to care for a sick family member or a new child.

High Housing Costs

The Census Bureau reports that only about 58% of American families can afford to purchase a modestly priced house in the area where they live.

Enterprise Zones

The Omnibus Budget Reconciliation Act authorizes establishment of enterprise zones to stimulate economic development within designated distressed areas through tax incentives and direct funding.